Monthly Archives: September 2012
Hedge fund founder says bonds are ‘quite close to cash under the bed’
Washington Post – What’s a better investment — U.S. bonds or the underside of your mattress? Ray Dalio wonders if it’s the latter. Dalio founded the hedge fund Bridgewater Associates. He tells the Council on Foreign Relations: “You are quite close […]
Hedge Fund Makes Quick Work Of Barnes & Noble Stake
Forbes – Activist hedge fund Jana Partners in August sold the remainder of its stake in Barnes & Noble, after amassing a 12% position in the stock, new SEC filings show. The investment by the fund, which is led by one-time […]
Hedge funds moving more assets into prime custody accounts with active management
Hedge Funds Review – A move to separate custody accounts since the financial crisis has turned into a major trend with hedge funds now placing a growing portion of their unencumbered assets with prime custodians. Hedge fund assets available for prime […]
Fairfax loses lawsuit against U.S. hedge funds
The Star – A New Jersey judge has tossed out an $8 billion lawsuit filed by Toronto-based Fairfax Financial Holdings Ltd. against U.S. hedge funds accusing them of conspiring with analysts and researchers to drive down Fairfax’s stock price. Superior […]
German court approves bailout fund, with conditions – eurozone crisis live
Guardian – Frank-Walter Steinmeier, leader of the opposition Social Democrats, has expressed his relief that the ESM now has the green light thanks to this morning’s ruling. Germany’s finance minister, Wolfgang Schäuble, has said that theEuropean Stability Mechanism could come into force […]
BlackRock: Hedge Fund Giant Gets $15 Million Fine [updated]
New York (HedgeCo.Net) – BlackRock has been fined £9.5 million ($15 million) by the UK Financial Services Authority. The worlds biggest asset manager is said to have failed to follow rules protecting clients money, Reuters reported. The problem occurred after BlackRock bought Merrill Lynch Investment […]
Baupost hedge fund files hot put-back complaint vs Bear Stearns
Reuters – In July, not long after The Economist dubbed its revered founder Seth Klarman “The Oracle of Boston,” the hedge fund Baupost abruptly dropped out of the litigation challenging Bank of America’s proposed $8.5 billion settlement with investors in Countrywide mortgage-backed […]
Hedge fund honcho seeks to oust congressman
Marketplace – Super PAC Prosperity First, which is bankrolled by wealthy hedge fund CEO Robert Mercer, is attempting to oust Democratic Rep. Tim Bishop in New York’s 1st Congressional District. In less than a week, the super PAC has spent more than […]
Investors pull more money away from hedge funds
Reuters – Investors took more money away from hedge funds in July when they asked for $7.4 billion back, underscoring their frustration with an industry that has long promised to make money in all markets but is currently delivering only […]
Asian hedge funds need to rise to corporate governance challenge
The Asset – The topic of fund governance is moving quickly to the top of the agenda for investors in hedge funds. Institutional investors, now representing over 60% of the global hedge fund asset base, are in the driving seat […]
Hedge fund assets available for prime custody jump 40% in two years, says BNY Mellon
Opalesque – BNY Mellon, the global leader in investment management and investment services, reported today that hedge fund assets available for prime custody services now stand at an estimated $684 billion, a 40% increase since 2010. The increase reflects both […]
People Moves: Don Steinbrugge Appointed To Board of Directors At HFA
New York (HedgeCo.Net) – International hedge fund organization, the Hedge Fund Association (HFA), announced that it has appointed Don Steinbrugge, chairman of Agecroft Partners, to its board of directors. “I am very honored to be selected and will be involved […]